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Analysis of Pricing: You manage MBA Deli which sells meals at a price of $6 each. The average number of meals sold per month is 7,000. MBA Deli would like to increase its sales and profits. The MBAs running the Deli, know that if price is lowered, they will sell more meals. So they run an experiment. Price is lowered to $5 per meal in October and the number of meals sold increases to 8,000.
Bill says that if they raised price to $7 per meal, they would be willing to produce 10,000 meals
How many meals will MBA Deli sell at $7 each? Use the original the elasticity of demand calculated in 1 above.(original elasticity was, -0.8571429)
Have no effect on equilibrium price and quantity. Reduce quantity demanded, but not shift demand curve. Which of following is unique to capitalist ideology.
You do not incur any cost to produce goods you sell and thus your profit equals selling price if you make a sell. Or three sellers do not have any costs either.
Walras Equilibrium with two consumers and two commodities, given endowments and preferences for both consumers.
Illustrate what price also quantity would prevail after the imposition of the tax
The price level in the economy in 2007 and 2008 rose from 100 to 105. In 2008 and 2009, the price level increase from 105 to 110.25. How does the short-run Phillips curve forecast the unemployment rate will change as a result?
Popular movements like "buy/shop local" seem to contradict the principle of specialization according to comparative advantage. How does the theory of comparative advantage influence your opinion on these movements and why?
Assume you have 5 uneven payments to make and you want to know what you will be paying at 10% per payment (year) on this uneven payment.
q1. suppose that the terms of trade of a nation improved from 100 to 110 over a given period of time.a by how much did
Does this make economic sense? Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
Why do you thing they each would work. Illustrate what would the benefits of each action be besides emissions reduction.
Elucidate how much consumer surplus would be created by randomly assigning buyer to sellers. Which method gives the larger surplus.
They use the Internet to pay babysitters. With no cash, does the nature of money change? Should the Federal Reserve change the definition of M1?
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